INTERNATIONAL ENEXCO DRILL PROGRAM UPDATE FOR CONTACT COPPER PROJECT, NV
The Contact Copper Project is a copper oxide project located in Elko County, Nevada, that is planned to use low cost SX-EW recovery to produce cathode copper on site. A positive updated Pre-feasibility Study (PFS) was completed in 2010 by Gustavson Associates. Proven and Probable Mineral Reserves in the PFS total 54.1 million tons grading 0.29% Cu. The Reserves were determined from Measured and Indicated Mineral Resources of 135 million tons of 0.26% Cu. The Resources and Reserves were determined using a copper price of $2.25/lb and a cut-off grade of 0.10% Cu. In October, 2011, the Company announced closing the acquisition of property adjoining the project. All Resources and Reserves were limited to the Company's pre-acquisition holdings.
*Resources and Reserves from Oct. 2010 NI 43-101 PFS Update
Additional information on the project can be found on the Company's website at www.enexco.ca/s/contact_copper.asp and in the NI 43-101Technical Report Pre-feasibility Study Update for the Contact Copper Project, Elko County, Nevada as posted on Sedar.East Expansion
The PFS reserves fall within a plan area elongated 4,000 feet (1220 metres) east-west by 1,500 feet (457 metres) north-south. As seen in the accompanying map, the eastern end of the reserve outline was limited by the Company's pre-acquisition ownership. The additional land from the acquisition allows the mine design to expand to full economic depth and laterally. Within the 1500 feet (457 metres) east of the reserve outline, the Company had drilled 8 previous holes. Additional drilling is needed to in-fill this area and test exploration potential beyond the furthest east hole, EN-149, which carries an intercept of 185 feet (56.4 metres) of 0.25% Cu. To achieve these objectives, the Company commenced a 20,000 feet (6,100 metres) drill program on November 16 2011. Contact East Expansion Area - Drill Hole Location Map
Qualified Person
William Willoughby, Ph.D., P.E. is the Company's Qualified Person for the purposes of National Instrument 43-101 and has prepared or supervised the preparation of the disclosure of any scientific and technical information contained in this news release.About International Enexco Ltd.
International Enexco Ltd is a North American exploration and development company focused on the feasibility stage Contact Copper Project in northern Nevada. The Company also pursues gold and silver exploration in Idaho and Nevada, and is advancing the Mann Lake Uranium Project located in Saskatchewan's prolific Athabasca basin. This project is a joint venture with Cameco as operator and Areva---two of the world's largest uranium companies.
On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments. "G. Arnold Armstrong"President & CEO
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International Enexco is a copper and uranium development stage company based in Canada.
International Enexco holds various exploration projects in Canada.
Its main exploration properties are LOOMIS, HOT POT PROJECT, MANN LAKE, CONTACT COPPER and MANN LAKE (JV) in Canada.